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Product Mix and New Product Development

In: Trends in Japanese Management

Author

Listed:
  • Toyohiro Kono
  • Stewart Clegg

Abstract

A firm’s product-market strategy focuses on the choice of product areas in which to operate, thus positioning the company in specific relationships to its operating environments. Product-market strategy has a considerable effect on company performance. When the demand for a product is declining, growth is impossible, no matter how sophisticated the organisational structure. There are four main areas in which product-market strategy can be chosen, as shown in Figure 4.1. The product mix reflects the market segments and value-premise that the company will use to attract its customers. Vertical integration fixes the boundary between the company system and the market: the extent of control by the company over the value chain. The degree of multinational management reflects the extent to which the production activity operates in other countries through the transfer of firm-specific management and technical skills. It is often assumed that these are superior to those available in the new country of operation. Competition strategy comprises the actions taken to hold or increase the company’s share of the market. Figure. 4.1 Four product-market strategies

Suggested Citation

  • Toyohiro Kono & Stewart Clegg, 2001. "Product Mix and New Product Development," Palgrave Macmillan Books, in: Trends in Japanese Management, chapter 4, pages 108-144, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-333-99389-7_4
    DOI: 10.1057/9780333993897_4
    as

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